Episode Details

Prominent Wall Street short seller Andrew Left was convicted of securities fraud on June 1st. Prosecutors alleged that Mr. Left used his TV appearances and website, Citron Research, to make certain assumptions about various stocks and then match these comments to his own trading positions. The problem is, he would use these tactics to pump up the stocks, while at the same time placing trades in the opposite direction. The big question here is what does this ultimately mean for Wall Street and other prominent short sellers that may engage in similar behavior? This episode reviewed an article from The Wall Street Journal (subscription required) titled “A short seller’s fraud conviction is spooking Wall Street” and an article from The Epoch Times (subscription required) titled “Short seller Andrew Left found guilty of securities fraud.”